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Boy Howdy Father’s Day was hot! Rachel and I drove down to the Colorado Springs to have lunch and go on a hike in Garden of the Gods with her mom and dad for Father’s Day. Two things conspired against us. One, Rachel sprained her foot sometime last week, poor baby. And two, it was just too hot to walk outside. We did have a nice lunch and drove through the Garden of the Gods; the temperature gauge put the temperature at 100 Degrees! We had a terrific time! Garden of the Gods is beautiful and I can’t wait to go back when the weather is considerably cooler.

Rachel’s foot was bothering her a little bit during the week but on Saturday morning when we got up her foot was really hurting. Luckily her doctor’s office was open and we where the 1st ones in. Doc said it was probably sprained but wanted us to get an X-ray. Homes by emailAnother stroke of luck, the X-ray place was open on Saturday too and we found out to foot was not broken! Yea! Bad part was we could not attend Doxypoluza in Jefferson County on Saturday, bummer! Rachel had her foot iced all day while I attended to her needs!

Next Foreclosure Wave Coming: Reason for Alarm?

Daily Real Estate News | Monday, April 02, 2012

Economists have been warning that a flood of foreclosures will soon be hitting the real estate market, likely this summer. Increases in foreclosures traditionally pull down nearby home prices. So should home owners be worried?

As of now, housing reports continue to show month-over-month drops in foreclosures. CoreLogic released a report late last week that showed completed foreclosures fell from 71,000 in January to 65,000 in February.

But as more banks look to clear a backlog of defaulting home loans from their books, economists say the public should expect a turn with foreclosures and the numbers are expected to soar in the coming months. Mark Fleming, CoreLogic’s chief economist, expects the wave to hit this summer.

However, Fleming doesn’t view the increase as a bad thing for the overall housing market. "I would like to see the pace increase, because that means we'll be able to work off the inventory faster," Fleming told AOL Real Estate. He says that recent improvements in the real estate market and economy may mitigate any traditional downward pressure seen on overall home prices by foreclosures.

In fact, despite an increase, Fleming still expects home prices to rise in some markets.

"All of this will result in more foreclosure pain in the short term as some of the foreclosures that should have happened last year instead happen this year," Daren Blomquist, vice president of RealtyTrac, said in a public statement in February.